ISDS Case Map
ECT
Energy Charter Treaty
Ascent Resources Plc, the onshore European and Caribbean / Hispanic American oil and gas company, has received a Letter of Intent for up to €3 million of potential litigation funding in Slovenia.
The claimants initiated ICSID arbitration against Spain, claiming breaches of the Energy Charter Treaty, including the fair and equitable treatment, umbrella and non-impairment clauses.
While policies aiming to phase out coal are necessary to tackle climate change, they may give rise to legal claims from companies whose investments are adversely affected by the low-carbon energy transition.
Civil society activists and scientific experts denounce the unsustainable practice of investment disputes under the Energy Charter Treaty.
When it issued three interim awards for Yukos, the arbitral tribunal noted that the principle of provisional application of treaties was recognized under Russian law.
A Dutch appeals court reinstated an international arbitration panel’s order that it should pay $50 billion compensation to shareholders in former oil company Yukos.
The energy company Vattenfall is demanding compensation from the Federal Republic of Germany. The costs for the arbitration proceedings could exceed 20 million euros this year.
This termination agreement marks the culmination of the European Commission’s and several Member States’ efforts to abolish intra-EU investment arbitration proceedings from the European legal order.
The leaked treaty for the termination of intra-EU BITs can be seen as the culmination of an ongoing effort by the EU Commission to discourage investment arbitration between Member States, reflecting a tension between public international law and EU law.
